DJI NIFTY Big moves heads upThe price action in global equities has been interesting lately and we are at a fantastic inflection point.
There are multiple triggers to support reasonably big move in either direction and traders would do well to take a notice.
My bias is on the downside but as I explain in the video, yours doesn't have to be.
Watch the video for short term targets
Search in ideas for "DJIA"
Melt upMost overbought ever...at least till 1970's
If that's not enough please humor me.
What's funny is everyone in the mainstream is defending. Including Warren Buffett.
www.cnbc.com
And this is the response from Cliff Asness
twitter.com
You know where I stand. Make up your own mind.
This is a global equity story. Not just the US.
Indian benchmark indices touched all time highs today.
Watching ETNOW and CNBC in India is funny. Their condescending opinions about markets are the daily dose of entertainment for me.
Even more amusing is how the opinions turn on a dime day over day.
With all due respect though. It's a tough job they have. I wouldn't fair better in all honesty.
But investors should.
Are we heading towards a NASTY GLOBAL CRASH! #DJI # NIFTYI have been tracking the DOW JONES weekly chart from the last couple of months when it started showing consecutive green days regardless of global factors, earning reports, etc.
So what intrigues me out of the weekly chart is the hastiness of the DOW towards the upper band of what appears to be a forming RISING WEDGE.
DOWs rise recently has been crazy to say the least. Last month would make even the dumb money feel like a Buffett or a Jesse.
Its been on a continuous rise, plain and simple, no matter what.
Now according to the chart we can take the spot levels of anywhere between 23450-23650 to be the reversal zone for DOW and it might retrace all the way down towards the lower band of the RISING WEDGE and by that time if the relevant factors are weak then it might fall down and then we'll be looking for a new support level but that would be a big downfall(CRASH) and also the global markets will follow the pattern.
And as far as our markets are concerned what I found interesting was that Nifty is also making the same pattern of RISING WEDGE on the weekly chart.
Investors should keep an eye on these things and should be aware, whereas for the traders, you know how we do it!
SNAPSHOT OF NIFTY RISING WEDGE on WEEKLY CHART
BANKNIFTY: FUT+ Spot, At a Glance for Trade Date 25th OCT 2017....... Spot & Future Intraday as well as Swing Trade levels plotted on chart.
HANGSENG': 28155.0 (-0.53%)
NIKKEI' 225: 21805.2 (+0.50%)
DJIA' : 23441.8 (+0.72%)
FTSE' 100: 7526.5 (+0.03%)
DAX': 13013.2 (+0.08%)
CAC' 40 ;' 5394.8 (+.15%)
SGX' NIFTY': 10200 (+0.32%)
BEARISH GAP (Strong RES. Zone): at 24575 - 24454, Formed on 18/10/2017
(Nearing to Fill GAP)
*** Data upto 03.30 AM on 25/10/17
Trade as per Specified level with description.
Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NIFTY: What's NEXT? Spot & FUT important Level for 25th Oct '17...... Spot & Future Intraday as well as Swing Trade levels plotted on chart.
HANGSENG': 28155.0 (-0.53%)
NIKKEI' 225: 21805.2 (+0.50%)
DJIA' : 23441.8 (+0.72%)
FTSE' 100: 7526.5 (+0.03%)
DAX': 13013.2 (+0.08%)
CAC' 40 ;' 5394.8 (+.15%)
SGX' NIFTY': 10200 (+0.32%)
Bullish Gap at 10104 - 10120
(Chance to Fill GAP)
Take attempt to fill, again missed
*** Data upto 01.30 AM on 24/10/17
Trade as per Specified level with description.
Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
BANKNIFTY: FUT+ Spot, At a Glance for Trade Date 24th OCT 2017....... Spot & Future Intraday as well as Swing Trade levels plotted on chart.
HANGSENG: 28305.9 (-0.64%)
NIKKEI 225: 21696.7 (+1.11%)
DJIA -0.23% : 23274 (-0.23%)
FTSE 0.01% 100: 7468.00 (-0.33%)
DAX: 13003.1 (+0.09%)
CAC 40 0.27% ;' 5386.8 (+.27%)
SGX 0.34% NIFTY: 10167.50 (-0.25%)
BEARISH GAP (Strong RES. Zone): at 24575 - 24454, Formed on 18/10/2017
(Chance to Fill GAP)
*** Data upto 01.30 AM on 24/10/17
Trade as per Specified level with description.
Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NIFTY: What's NEXT? Spot & FUT important Level for 24th Oct '17...... Spot & Future Intraday as well as Swing Trade levels plotted on chart.
HANGSENG: 28305.9 (-0.64%)
NIKKEI 225: 21696.7 (+1.11%)
DJIA : 23274 (-0.23%)
FTSE 100: 7468.00 (-0.33%)
DAX: 13003.1 (+0.09%)
CAC 40 ;' 5386.8 (+.27%)
SGX NIFTY: 10167.50 (-0.25%)
Bullish Gap at 10104 - 10120
(Chance to Fill GAP)
Take attempt to fill, again missed
*** Data upto 01.30 AM on 24/10/17
Trade as per Specified level with description.
Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NIFTY: What's NEXT? Spot & FUT important Level for 23rd Oct '17....... Spot & Future Intraday as well as Swing Trade levels plotted on chart.
HANGSENG': 28487.24 (+1.17%)
SHANGHAI': 8721 (+0.25%)
NIKKEI' 225: 21457.64 (+0.44%)
DJIA' : 23328.63 (+0.71%)
FTSE' 100: 7493.00 (-0.07%)
DAX': 12991.28 (+0.01%)
CAC' 40 ;' 5372.38 (+.08%)
SGX' NIFTY': 10192.50 (-0.58%)
Bullish Gap at 10104 - 10120 (Chance to Fill GAP)
on Last trading day, take attempt to fill but missed.
Trade as per Specified level with description.
Don't forget to Click / Tap LIKE button, as Like is Barometer of Usefulness.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
Mentioned in WEEKLY CHART Sell Zone at 10159- 10196 (Spot)
made HIGH at 10271.40 (Fut), 10251.85 (Cash). also made LOW 10107.1 (Future), 10123.3 (Cash).
Link of Published Chart.
Global risk (equity) marketsAfter the fox paus of North Korea, and despite the best efforts of US admin to fuck things up, normalcy is restored.
Normalcy by definition is abnormal though these days. So be on your tows.
Over next few days, week or two, it's the most bullish of bull market all around!
Medium to long term is unknown.
But it's great time to make some money in short term.
For one, there are a lots of shorts out there considering the headwinds out there.
And two, equal measure are willing to buy on dips. So in any impromptu move up, shorts get burned and longs will tag along.
I, for one, am definitely expecting a short and sharp burst up in US equities. And that should see a follow through in other markets.
There is always a fear of Kim Jong Un doing something stupid. But what the world doesn't understand is Kim isn't stupid. Trump is.
As long as General Kelly keeps doing a great job he's been doing so far, any Trump shorts will burn. And that's a great news for risk markets all around.
Make hay while the Sum shines. The Sun won't shine forever though.
I have a feeling when Trump sees Kelly getting some credits he will push on to satisfy his narcissism and dump the risk on trade.
So that should still give us a couple of weeks.
For Indian markets. the high beta and leaders like MARUTI, RELIANCE, HDFCBANK should translate well.